F1The FCA shall assess whether there is a significant and adverse impact on financial stability in accordance with the following criteria:

1. (a)

   the value of financial instruments, financial contracts and investment funds that reference the benchmark, either directly or indirectly within a combination of benchmarks, in the F2United Kingdom, both in absolute terms and relative to:

   1. (i)

      the total assets of the financial sector in F3the United Kingdom;

   2. (ii)

      the total assets of the banking sector in F4the United Kingdom;

2. (b)

   the vulnerability of financial institutions having signed or invested in financial instruments, financial contracts and investment funds that reference the benchmark.